The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-20
CAN'T PAY CURRENT DEBTS
The Last Available Dollar of the States
General Fund Paid Out Yesterday.
The Deplorable Result of Democratic Extra1a-
gance and Recklessness in the Manage
ment of the States Finances,

The Soldiers Orphans Home had warrant
yesterday the State treasury for 81, ZOO lt
was issued on account of maintenance. and us
payment took the last available dollar IN the
general fund. This leaves that fund without
meals to meet the current expenses of the State
and the several institutions until the December
revenues obtainable, unless some plan is de-
vised to avoid keeping them on credit for
the bills coming due in September.
October. November and December. Treasurer
Lemcke thinks he will be able to get some money
from the counties that have it to spare The
law gives him the power to call for 1t. and this
he intends to do. 1t may produce enough to
liquidate the August bills, but if not the fund
must wait until December before it can be re-
plenished.
There was in the genera fund Aug. l. this
year, balance of only $38, 600 that could be
used for current demands, but the apparent bal
ance was 1926 162 A This latter showing is
made the $40, 900 borrowed in April to pay
interest of which has been transferred to
the tuition revenue fund to meet the interest on
non negotiable school-fund bonds The greater
part of the other half is also to be transferred to
that fund, leaving an amount IN the general
fund with which to pay interest on the new
State house bonds and temporary loans, which
becomes due in September, October and Novem-
ber When this $40, 900 came into possession of
no other purpose than that for which
it was borrowed. Hence, although great part
of it is still IL the general fund, it cannot be used
to meet current expenses
An investigation of the AUDITORS books for
the last four years shows that the Democratic
officials in their financial management were sue
cessfu in increasing the State debt by ST.. 190,-
000 In August, 1882, the Republicans were in
the last months of their occupancy of the Audi
tors and Treasurer's Offices They sue
ceeded by Democrats who had large balance
in the general fund to draw on. the August bal
ance of 1882 showing $481. COZ 90 subject to cur
checking. Five years later. after the
Democrats had full control of the
States finances, the Republican officials
have only on the August balance
$3S, 600 with which to meet current demands
In the first months of the year, forced by the
effects OF four years Democratic fnanciering.
the State was compelled to borrow $40. 900 TO
pay interest and 500 900 additional on a temper
airy loan. It increased the State debt that much.
but not to the extent the Democratic officials
did after they had checked out balance of
nearly 100000 in the general fund
that the Republicans turned to
them at the beginning of 1888 The Democrats
only a little oyer a year in Office when they
began to borrow money and the State debt of
$971. 825 II they took charge of was increased by
them in four years to So, 161 ,825 II. It is
through such financiering as this that the State
is compelled get along best it may for
four months without dollar il the general
fund that be made available in paying the
warrants that may be drawn against It.